What Country Backs Bitcoin As Currency CryptoCoins Info Club

In a mass internet t, what would you be able to spend first. The currency backed by your debit card, or bitcoin?

submitted by vancetank74 to CoinBase [link] [comments]

Mann I remember trying to put y’all on to crypto currency on the PlayStation fortnite community several months back and y’all got my account that I had for like 10 years banned off psn as a whole🙄😏crypto is key what more can I say.. bitcoin is god that’s it...

Mann I remember trying to put y’all on to crypto currency on the PlayStation fortnite community several months back and y’all got my account that I had for like 10 years banned off psn as a whole🙄😏crypto is key what more can I say.. bitcoin is god that’s it... submitted by cheeboo420 to FortniteBattleRoyale [link] [comments]

It’s 2028 and 1 Bitcoin is worth 1 million US dollars. If a luxury home was worth 1 million US dollars back in 2019, what would you estimate that this same luxury home is worth in USD and in BTC now? Does hyperbitcoinization require hyperinflation of government currencies and real estate?

It’s 2028 and 1 Bitcoin is worth 1 million US dollars. If a luxury home was worth 1 million US dollars back in 2019, what would you estimate that this same luxury home is worth in USD and in BTC now? Does hyperbitcoinization require hyperinflation of government currencies and real estate? submitted by Sandiegosurf1 to Bitcoin [link] [comments]

10-29 02:14 - 'No, what I am saying is Bitcoin is worthless and it’s scarcity will not increase demand. A better crypto currency, likely backed by some type of sound money or portfolio of investments will become the crypto curre...' by /u/Admittedly_Ignorant removed from /r/Bitcoin within 456-466min

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No, what I am saying is Bitcoin is worthless and it’s scarcity will not increase demand. A better crypto currency, likely backed by some type of sound money or portfolio of investments will become the crypto currency of the future.
Bitcoin is like one of those dumb web companies from the dot com bubble. They knew roughly where technology was going, but they just didn’t create a good product. Bitcoin, backed by nothing, is worthless. It’s pure speculation and has no basis which would make it valuable for anything.
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"They" don't fucking get it. Bitcoin is backed by the most powerful computer network on the planet. These countries toying with the idea of issuing crypto/digital currencies have no idea what the fuck they are doing. Period.

submitted by reality__fade to Bitcoin [link] [comments]

Bitcoin and other decentralized currency and processing platforms are rapidly causing increasingly large "farms" - a trend back to centralization. Incentivized distributed platforms will tend towards centralization. What mechanisms can be used to prevent this?

Bitcoin and other decentralized currency and processing platforms are rapidly causing increasingly large submitted by juxtapozed to Rad_Decentralization [link] [comments]

Someone texted me today that Bitcoin was the unregulated currency until New York stepped up to the plate to regulate it. This is what I texted back:

Actually, Bitcoin was highly regulated on Day #1. More so than any other currency on the planet, which bankers print out of thin air at will and change the rules of to benefit themselves. Bitcoin was regulated by the unbreakable rules of math, the unbreakable security of cryptography, the unbreakable predictability of a timed inflation & deflation schedule, and the unbreakable transparency of open source code.
submitted by scotty321 to Bitcoin [link] [comments]

Bitcoin investors, what would cause you enough concern to pull out of bitcoin and go back into a currency or commodity?

submitted by Trashbrain00 to Bitcoin [link] [comments]

01-08 11:53 - 'That might be what Bitcoin is to you personally. I support having Bitcoin among my portfolio because it gives power back to the people, I like digital money, hate the Euro, and most importantly support deflationary currencies...' by /u/Geoku11 removed from /r/Bitcoin within 8-18min

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That might be what Bitcoin is to you personally. I support having Bitcoin among my portfolio because it gives power back to the people, I like digital money, hate the Euro, and most importantly support deflationary currencies.
A nation is the foundation for a society to have representation. Without the nation state and borders, people cannot defend themselfs, there desires, there markets, there way of life, they cant have representation, they cant have diversity, they cant have cultures, they cant have democracy.
If we would already have no nations, and the Globalist system in place, we would have 1 world government, 1 world police, 1 world army. You know how easily and quickly they could end Bitcoin and replace it with a centralized shitcoin on a microchip implanted in your hand. Surveilling everything you do and say "for your own safety". This is the future the globalists are heading for.
Only the nation state is giving regions, its people the democracy, the representation that they want, need and deserve. And if necessary the military defends if there freedom is threatened. Globalism is a assured path to authoritarian tyranny. It would be very easy for the nations of the world to give away there freedom and independence to a world government world police/world army. But it would be extremely difficult to ever get it back. You can kiss your decentralized, deflationary, annonymous Bitcoin, Crypto goodbye forever if Globalism wins. How do the Globalists describe Bitcoin, as a terrorists money, a money laundering scheme, only used for crime, a ponzi scheme people need to stay away from.
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What prevents someone from starting a bitcoin-backed cash currency?

In the old days, dollars were printed by "the bank" for the amount of gold that was available in the vaults. So you could technically hand out bills of bitcoin when you have the bitcoin secured in your possession. Then you will technically be a bank backed by bitcoin. Obviously you can evolve to a partially bitcoin-backed currency to a fiat bitcoin-currency and we're back where we are now.
Is there something preventing this apart from the current political/banking system declaring monopoly on distributing cash currency?
submitted by ElephantsAreHeavy to Bitcoin [link] [comments]

What is holding Bitcoin back from taking over and how much longer do you think it will be before paper money is no longer traded as currency?

submitted by Trill_Dude_23 to AskReddit [link] [comments]

I wrote this essay on whether Bitcoin is a currency or an asset, and what gives a particular coin it's value. I'd very much for anyone to give it a read through and let me know what you think. All feed back is good! Both positive and negative. I always try to learn more. Thanks guys.

I wrote this essay on whether Bitcoin is a currency or an asset, and what gives a particular coin it's value. I'd very much for anyone to give it a read through and let me know what you think. All feed back is good! Both positive and negative. I always try to learn more. Thanks guys. submitted by VeryAngryFish to CryptoCurrency [link] [comments]

Given the current political situation in the West and as the potential for conflict with Russia, NK, others continues to increase, what future does blockchain tech have relative to state-backed currencies in regions where conflict may become imminent? /r/Bitcoin

Given the current political situation in the West and as the potential for conflict with Russia, NK, others continues to increase, what future does blockchain tech have relative to state-backed currencies in regions where conflict may become imminent? /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

12-23 17:32 - 'Does anyone have any thoughts on why Bitcoin isn't springing back as quickly as other currencies?' (self.Bitcoin) by /u/erm_what_ removed from /r/Bitcoin within 1-11min

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It's clear recently that Bitcoin fluctuations can massively affect other currencies. What do we have to work on most as a community to keep Bitcoin (and as a result the whole market) viable?
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Does anyone have any thoughts on why Bitcoin isn't springing back as quickly as other currencies?
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Bitcoin investors, what would cause you enough concern to pull out of bitcoin and go back into a currency or commodity? /r/Bitcoin

Bitcoin investors, what would cause you enough concern to pull out of bitcoin and go back into a currency or commodity? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

"They" don't fucking get it. Bitcoin is backed by the most powerful computer network on the planet. These countries toying with the idea of issuing crypto/digital currencies have no idea what the fuck they are doing. Period. /r/Bitcoin

submitted by BitcoinAllBot to BitcoinAll [link] [comments]

This might be a stupid question but what could potentially cause this bubble to burst? If you look back at past bubbles, dot com and housing, these occurred due to failure of a derivative/ product. BTC has proven to be a solid, secure form of currency. What would cause a mass dump of BTC? /r/Bitcoin

This might be a stupid question but what could potentially cause this bubble to burst? If you look back at past bubbles, dot com and housing, these occurred due to failure of a derivative/ product. BTC has proven to be a solid, secure form of currency. What would cause a mass dump of BTC? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

If people 'cash out' of Bitcoin to make a profit (exchange for fiat currency), what does that say about its use as an actual currency? If people are exchanging back for fiat? /r/Bitcoin

If people 'cash out' of Bitcoin to make a profit (exchange for fiat currency), what does that say about its use as an actual currency? If people are exchanging back for fiat? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What prevents someone from starting a bitcoin-backed cash currency? /r/Bitcoin

What prevents someone from starting a bitcoin-backed cash currency? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What if a government issued currency was backed by bitcoin?

The idea of physical bitcoins is cool, but it seems to have some practical problems because you must hide a private key beneath a delicate seal, like this: http://firmcoin.com//wp-content/uploads/2013/06/FirmCoin.png or else openly display it (allowing people to steal money by taking a picture of it).
Either way, the person accepting a physical bitcoin has to electronically verify that it really contains the specified amount, which to me reduces the usefulness of a physical bitcoin.
But what if a government issued a paper currency that wasn't actually bitcoin, but used the same numbers and was backed by bitcoin at a 1:1 exchange? It would be like returning to the gold standard, except more straightforward. It'd be paper money that symbolized real bitcoin held in reserve.
It would allow people to exchange cheaply produced, difficult to counterfeit, no technology required bitcoin. Do you think this is plausible? Do you think a government would ever do it?
submitted by PoeCollector to Bitcoin [link] [comments]

Isn't it obvious what will happen? Banks will collaborate to issue a globally recognized physical currency, backed by bitcoin. We are headed to one world currency, both physical and digital.

The idea of having huge exchange boards filled with exchange rates at every airport will seem silly in twenty or thirty years.
There will simply be the global dollar. It's value will be tied to bitcoin holdings, and banks will collude to issue this currency at a set fractional reserve, based on agreed upon rates.
This will have the double effect of making actual bitcoin holdings more powerful and valuable than ever.
The race to secure bitcoins won't end in a few years though; this is an arms race that will continue as long as we have computers. Therefore the common man will just accept the global dollar and the bitcoin it's based off of.
You will be able to easily exchange your dollars for actual bits, and indeed this is how most savings accounts will work. This will also serve as 'proof' that your dollars are exchangeable for actual hard bitcoins.
For quick and physical transactions where network connectivity is a problem, the global dollar will be a useful stopgap when actual bitcoin transfer isn't possible.
Many banks will merge and combine, even more so than they have now. Six major banks? Try three or fewer... Perhaps even one World Bank.
There will be holdouts, for sure. Some countries will cling to their national currency, but even they will accept the new global dollar / Bitcoin.
Of course, this leads us to the next major financial crisis after this coming one... When banks misrepresent their bitcoin holdings and everything comes crashing down... History always finds a way to repeat itself.
submitted by americanpegasus to Bitcoin [link] [comments]

What would happen if China created a gold backed crypto currency? /r/Bitcoin

What would happen if China created a gold backed crypto currency? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What is Bitcoin backed by? What backs Bitcoin? Professor Reid Tymcio describes what ... Why Are So Few Blacks Involved In Bitcoin? What Happens if Bitcoin Becomes the Currency of The Future ... What is Bitcoin? - YouTube

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What is Bitcoin backed by?

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